Outstanding Paper Award for Theo Dijkstra
Prof.dr. Theo Dijkstra of the department Economics, Econometrics and Finance of our Faculty, together with Youbaraj Paudel, Wouter Botzen and Jeroen Aerts (VU University), has been awarded the Outstanding Paper Award 2015 of the Journal of Flood Risk Management. The prize has been awarded for their paper entitled “Risk allocation in a public–private catastrophe insurance system: an actuarial analysis of deductibles, stop-loss, and premiums”. The Outstanding Paper Award considers all papers which were published in volume 8 of the journal during 2015.
Abstract
A public–private (PP) partnership could be a viable arrangement for providing insurance coverage for catastrophe events, such as floods and earthquakes. The objective of this paper is to obtain insights into efficient and practical allocations of risk in a PP insurance system. In particular, this study examines how the deductible and stop-loss levels (retentions) for, respectively, the insured and the insurer, relate to the corresponding maximum required coverage and premium amounts under the 99.9% tail value at risk (TVaR) damage constraint. A practical example of flood insurance in the Netherlands is studied in which the (re)insurance could be provided either by a risk-averse (private) or a risk-neutral (public) agency, which could result in large differences in premiums.
More information
- Contact: Theo Dijkstra
- Full publication: Paudel, Y., Botzen, W. J. W., Aerts, J. C. J. H. , & Dijkstra, T. K. (2015). Risk allocation in a public-private catastrophe insurance system: an actuarial analysis of deductibles, stop-loss, and premiums . Journal of Flood Risk Management , 8(2), 116-134. DOI: 10.1111/jfr3.12082
________________________________________________
> More news from the Faculty of Economics and Business
> FEB experts in the media
Last modified: | 29 February 2024 10.02 a.m. |
More news
-
18 April 2024
Ward Romeijnders appointed as Professor of Optimization under Uncertainty
The Faculty of Economics and Business is pleased to announce that Ward Romeijnders has been appointed as Professor of Optimization under Uncertainty. The chair is situated within the Department of Operations.
-
12 April 2024
Inaugural Lecture Corine Noordhoff: Future ready retail
In her inaugural lecture, Professor of Retail Marketing Corine Noordhoff will provide insights in the cornerstones for survival and adaptation in the retail sector. Noordhoff’s inaugural lecture will take place on Friday 19 April 2024, 16:15 –...
-
09 April 2024
New issue FEB Research Newsletter
We are proud to present the spring 2024 edition of the FEB Research Newsletter.